Microsoft just released its fiscal Q3 2013 statement, with overall revenue of $20.49 billion up 18 percent year-over-year. However, when you take into account recognition of revenue related to Microsoft's Windows 8 upgrade offer, things look a bit different. Adjusted revenue of $18.8 billion is only up eight percent over the year-ago quarter. As for its Windows division, it's a similar story — revenues of $5.7 billion are up 23 percent year-over year, but adjusted revenues to the upgrade offer take into account lower revenues to $4.6 billion (flat year-over-year). At the end of the day, however, Microsoft had a healthy quarter — total net income for the quarter was $6.06 billion, up 18.5 percent year-over-year.
Microsoft also announced that CFO Peter Klein will be leaving at the end of June after four years in his current role and nearly 11 with the company. The company says it will name a new CFO from its financial team within the next several weeks. "It has been a pleasure to work with Peter as CFO," CEO Steve Ballmer said in a statement. "He's been a key member of my leadership team and a strategic advisor to me, and I wish him the very best."
It's worth noting that, despite the healthy profit increase this quarter, it'll need stronger results from the Windows division to keep growing moving forward. Revenues for its business division grew 5 percent to $6.1 billion, while the entertainment and devices division grew 33 percent to $2.2 billion (year-over-year, after adjustments). Xbox Live in particular had a nice quarter — the service now has 46 million users, up 18 percent from one year ago. But in its first quarter since ending its bold Windows 8 upgrade promotion, the Windows division struggled — there's no word on how many Windows 8 licenses were sold in the quarter, nor do we know yet how many Surface devices were sold. Microsoft is hosting an earnings call later this afternoon, so we're hoping the company digs a bit deeper into Windows performance then.